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Re: Australia post# 4449

Monday, 04/03/2006 9:35:51 PM

Monday, April 03, 2006 9:35:51 PM

Post# of 56764
Thus, if many people got screwed by NSSers, there may be lawyers who would like to help them dealing with super rich MMs or who ever the culprit(s).

No. As I explained, the NSS suits have gone very badly for the plaintiffs so far. Lawyers only work on contingency when they're very sure they'll win. O'Quinn miscalculated. I think initially he didn't understand the difference between naked shorting and shorting against toxic paper.

And then his first and highest-profile client, Gary Valinoti of Jag Notes, got slammed by the SEC bigtime, and now owes millions in fines.